Gulf market News, Photo, Video and Current Affairs

India's gems and jewellery sector, the first shipment of gold jewellery from Kolkata to Oman under the India-Oman Comprehensive Economic Partnership Agreement (CEPA) was dispatched today, marking the commencement of direct duty-free exports from Eastern India to the Sultanate of Oman. The maiden consignment, exported by Kolkata-based jewellery manufacturer Wonder Jewels, was flagged off in the presence of Smt. Arti Saxena, IRS, Commissioner of Customs, Kolkata (Airport & Air Cargo Complex) and Shri Pankaj Parekh, Regional Chairman, Eastern Region, GJEPC and other officials. The India-Oman CEPA, which came into force on 1 June 2026, provides duty-free access for Indian gold jewellery and diamonds in the Omani market, enhancing the competitiveness of Indian products and creating new opportunities for exporters. The agreement is expected to strengthen direct trade links between the two countries while reducing dependence on intermediary trade routes. Oman represents a promising destination for Indian gems and jewellery exports. India's exports of gems and jewellery to Oman currently stand at around USD 35 million, including approximately USD 10 million in gold jewellery exports. Industry estimates indicate that exports to Oman could increase to nearly USD 150 million over the next three years, driven by improved market access and growing demand for Indian jewellery in the region. Commenting on the development, Shri Kirit Bhansali, Chairman, GJEPC, said "We have already witnessed the positive impact of India's trade agreements, particularly the India-UAE CEPA and the India-Australia ECTA, in expanding market access and creating new opportunities for our exporters. Despite geopolitical uncertainties and the challenges posed by evolving tariff regimes during FY 2025-26, the gems and jewellery sector delivered exports of nearly USD 28 billion, reflecting the resilience of the industry and the benefits of market diversification. We are confident that the India-Oman CEPA will further strengthen India's presence in the Gulf region and open new avenues for export growth. We thank the Government of India for its continued efforts to secure trade agreements that support the growth and global competitiveness of our industry." Shri Pankaj Parekh, Regional Chairman, Eastern Region, GJEPC, said, "The first shipment from Kolkata under the India-Oman CEPA highlights the growing role of Eastern India in India's gems and jewellery export ecosystem. Direct duty-free access to the Omani market will eliminate the need for costly routing through the UAE, making Indian jewellery more competitive while enabling faster deliveries and greater efficiency. The agreement opens up new business opportunities for exporters from the region, and we expect this development to encourage more companies to explore Oman and the wider Gulf market." Industry stakeholders believe the India-Oman CEPA will further strengthen bilateral trade and position Oman as an important gateway for Indian jewellery exports to the wider Gulf region.

Tag: Gulf market

Most Read

De Beers and Forevermark Diamond Jewellery Bring Jaipur’s Royal Legacy into a New Chapter for natural diamonds

Basilia Jewellery & Watch Fair its gateway trade fair for the jewellery, watch and gemstone industries in Asia and Europe

CaratLane Makes History on 18th Birthday: Enters GUINNESS WORLD RECORDS™

Platinum Guild International (PGI) India has unveiled a new Men of Platinum Designs collection

EDITOR PICKS

De Beers and Forevermark Diamond Jewellery Bring Jaipur’s Royal Legacy into a New Chapter for natural diamonds

Basilia Jewellery & Watch Fair its gateway trade fair for the jewellery, watch and gemstone industries in Asia and Europe

CaratLane Makes History on 18th Birthday: Enters GUINNESS WORLD RECORDS™

POPULAR POSTS

De Beers and Forevermark Diamond Jewellery Bring Jaipur’s Royal Legacy into a New Chapter for natural diamonds

Basilia Jewellery & Watch Fair its gateway trade fair for the jewellery, watch and gemstone industries in Asia and Europe

CaratLane Makes History on 18th Birthday: Enters GUINNESS WORLD RECORDS™

POPULAR CATEGORY

ABOUT US

FOLLOW US